On November 21, 2016, three delegated regulations (together, Delegated Regulations) made under the Markets in Financial Instruments Regulation were published in the Official Journal of the EU. The Delegated Regulations are:
- Delegated Regulation (EU) 2016/2020 on the criteria for determining whether derivatives subject to the clearing obligation should be subject to the trading obligation, available here;
- Delegated Regulation (EU) 2016/2021 on access in respect of benchmarks, available here;
- Delegated Regulation (EU) 2016/2022 on the information for registration of third-country firms and the format of information to be provided to clients, available here.
The Delegated Regulations will go into effect on December 11, which is 20 days following publication in the Official Journal of the EU. However, as with all legislation under MiFID II (including MiFIR and the Delegated Regulations), they do not go into effect across EU member states (and are not binding on market participants) until January 3, 2018.
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National Law Review, Volume VI, Number 338